Payout-Tax Relief For Some Overseas Shares'
Holders

A weak dollar helps some Euroland stocks, but hurts others.

WHAT'S THE BENEFIT to shareholders of foreign companies from the Bush proposal to eliminate the tax on corporate dividends to individuals? That would depend on whether a company pays U.S. federal taxes and how much of its total dividend comes from U.S.-taxed income.

The deciding factor is "effectively connected income on which they pay U.S. tax," says Lehman Brothers'...